loan????

[yankeedoodle]

I'm 17 and considering getting a loan for my next bike. I want a restricted 600 so I'll probably be keeping it for quite a while so I want one thats in good condition. Sadly with my part time job that means I;m gonna have to wait a while, even after I;ve passed my test.

Does anyone offer loans to under 18s? Anyone who's had experience please let me know!

Cheers

[Minty]

Pretty sure you have to be 18 to enter into a credit agreement.
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[Wafer_Thin_Ham]

no loans to under 18's as far as I know. You may as well just save your money and wait until you are older to get a 600. Get a 400, much cheaper to buy and insure, they are also easier to learn the art of cornering on as oppose to a 600. There is also not so much of a temptation to de-restrict it.

You may well change your mind when you're 19 and end up selling your 600 so I woud just wait, that's what I chose to do in the end, I was in exactly the same situation as you. I got a restricted 4 and now i'm on a Hornet 6. Moving up to a sports 600 in a couple of years.....

EDIT

Just had a thought, you may be able to get a loan, but you'll have to get a parent to "underwrite"/guarentee it, so if you can't pay it your parents will and if they don't the loan company will re-po from your parents. At least you used to be able to (20-30 odd years ago)
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[Cigaro]

[yankeedoodle]

thanks for the help guys.

I have been looking at 400s but I've often found them to be more expensive on insurance, partly because they're nearly all grey imports.

cheers

[TheDonUK]

Your 17, you planning to goto uni? if so you have the option of getting a student loan and blowing that on a bike, far better rates than a high st loan.

Couple things to consider if you buy a new(ish) bike on loan and you end up stacking it, you wont have a bike but will still be paying for it for possibly a very long time.

I very nearly went down the above route of using my student loan on a bike, in the end i worked for a couple months and brought my bike for £1500 cash, rather than getting a loan for something new £2500-5000 and taking a big hit on depreciation.

Its not a completely stupid idea though, just understand that you will be tied into paying for that bike for a long time, do you have job security?

also your 17, what is your current bike? if you have a look on the main page there is a whole thread "17 year olds and 600 sports bikes" or something, covering all the opinions on that side of things.

Either way a loan is prolly a better way to get a shiney new bike than dealer finance as at least you will own the bike... legally anyway...

[EllioTT_GiXXeR]

Dont take out a loan, pay cash for everything
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[Wafer_Thin_Ham]

[yankeedoodle]

first of all ive been quoted cheaper on insurance with (dont kill me) bennetts.

I'm currently insured with them and I'm only halfway through the policy with them. I paid for policy in full at the beginning so there's no question of cancelling it. I'm just going to change the bike on the policy.

secondly, no I'm not going to uni, I'm hopefully going into full time work after college (still another year left at college first)

I'd like to spend about £1000 on my next bike (preferably 600 as I've mentioned) but a few people have advised me to look more towards £1500. What can I get for these prices? In terms of year/condition. I'm looking at the naked bikes. Mainly SV 650, Bandit, Hornet.

Cheers

[Wafer_Thin_Ham]

[yankeedoodle]

what sort of year are we looking at with "early"

and is that extra £500 going to make alot of difference to the condition of bike I get?

I've already had quotes from bennetts and they've been reasonable. The bandit 600 was £420 TPFT which was cheaper than the bandit 400. SV insurance is also about the same.

[Wafer_Thin_Ham]

[yankeedoodle]

awesome! thanks very much.

will this give me a good idea at what I should expect to pay roughly for each bike/condition/year?

Thanks again for your help, it's really appreciated

[TheDonUK]

Ahh when you said 600, i assumed sports...

I got a bandit 600 myself for £1500, it was in perfect condition though, only 5500 miles and was immaculate, no problems with it really, im glad i spent the extra initially on it...

[yankeedoodle]

nahh I'm in no rush for a 600 sports. I've heard they dont take to the restriction very happily as well. specially the gixxer 600.

any suggestions for a good naked 600? as I said, I've already had a good look at SVs. It's just a case of what I can get for my money really. I think £1500 would have to be by maximum. Any more and I'm gonna have to wait till the end of the year before I can afford one.

Is it worth looking at bikes with a few cosmetic issues such as dented tank/scratched mudguards etc. Maybe I can get one like that a bit cheaper and then pay for replacement/fixing as and when I can afford to.

[Wafer_Thin_Ham]

[yankeedoodle]

ooops

well a big sorry guys! I should have been a bit more specific about the bike. atleast it didn't get me in to too much trouble I guess.

Yeah i think that probably makes sense. I can live with cosmetic damage. I'm not expecting an immaculate bike. Atleast that way I can still ride the bike and then fix it up as it suits me.

Lets be optimistic though eh?
I won't drop it!

cheers

[Wafer_Thin_Ham]

[yankeedoodle]

good to hear! make sure it stays that way and i will too

*runs to find large tree*

got me enough wood to last a lifetime

looking a bit more into the hornet now

[_Will_]

[Wafer_Thin_Ham]

[TheDonUK]

Naked Bandit FTW...

Big_Ham i was on a rideout with another guy on a Hornet 600, i was under the impression they were slightly more powerful than the bandits... but we both topped out at the same, and if anything mine was quicker off the mark, ile put that down to me rather than the bike though...

Whats the most you've had out of your hornet, on private roads of cause

The bandit will accelerate upto 120 then chug to 130...

[Wafer_Thin_Ham]

[St0rmer66]

If Bennetts let you change your bike over mid policy I'll eat my helmet.
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:: Honda XR 125 L ('53) => Kawasaki GPZ 500S ('02) => Suzuki SV650S ('00) => Aprilia RSV-R ('51) ::

[yankeedoodle]

haha ill let you know how it goes stormer!